Cosan (NYSE:CSAN) Sees Strong Trading Volume – What’s Next?

Cosan S.A. Sponsored ADR (NYSE:CSAN) shares saw unusually-high trading volume on Thursday . Approximately 2,590,161 shares traded hands during trading, an increase of 72% from the previous session’s volume of 1,505,795 shares.The stock last traded at $4.8750 and had previously closed at $4.49.

Analyst Upgrades and Downgrades

CSAN has been the topic of several analyst reports. Hsbc Global Res upgraded Cosan to a “moderate sell” rating in a report on Monday, September 22nd. HSBC restated a “reduce” rating and set a $4.40 price objective on shares of Cosan in a report on Monday, September 22nd. Zacks Research lowered Cosan from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 26th. The Goldman Sachs Group cut their target price on Cosan from $6.60 to $5.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 27th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Cosan in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $9.47.

Cosan Stock Performance

The firm has a market capitalization of $2.17 billion, a PE ratio of -5.11 and a beta of 1.01. The company has a debt-to-equity ratio of 1.88, a current ratio of 2.13 and a quick ratio of 1.98. The stock has a 50-day moving average price of $4.73 and a 200-day moving average price of $4.91.

Cosan (NYSE:CSAN) last announced its earnings results on Thursday, August 14th. The company reported ($0.36) earnings per share (EPS) for the quarter. Cosan had a negative return on equity of 27.61% and a negative net margin of 28.08%.The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $7.12 billion. On average, research analysts expect that Cosan S.A. Sponsored ADR will post 0.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Cosan

Hedge funds have recently bought and sold shares of the company. FORA Capital LLC acquired a new position in Cosan in the first quarter worth about $58,000. Ballentine Partners LLC purchased a new stake in shares of Cosan in the 2nd quarter valued at approximately $64,000. Cerity Partners LLC purchased a new stake in Cosan in the 1st quarter worth about $69,000. Savant Capital LLC acquired a new stake in Cosan during the 2nd quarter worth about $77,000. Finally, Russell Investments Group Ltd. purchased a new position in Cosan during the 2nd quarter valued at about $109,000.

Cosan Company Profile

Cosan SA engages in the fuel distribution business. It operates through Raízen, Compass, Moove, Rumo, and Radar segments. The company’s Raízen segment engages in the production, commercialization, origination, and trading of ethanol, bioenergy, renewable sources, and sugar; trading and resale of electricity; and distribution and commercialization of fuels and lubricants.